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This Palo Alto home wants almost $2 million

Silicon Valley town’s willful housing shortage means big gains for sellers

On the heels of Wednesday’s news that Palo Alto Planning and Transportation commissioner Kate Vershov Downing stepped down because she and her family could no longer afford to live in Palo Alto, the city’s intention and egregious lack of housing has taken center stage.

And with that, here is what a stripped down 1,385-square-foot home asks for these days in Silicon Valley. Specially, this perfectly decent (albeit hardly jaw-dropping) Palo Alto home at 544 Georgia Avenue.

Coming in at three beds and two baths, this 1950 home features wood paneling and accents throughout the place. Of special note is the stained-glass door and the (above ground) jacuzzi. Too bad will all probably be torn down after it sells.

The property is also sitting on a good-sized 6,372 square feet lot, according to Redfin’s estimates.

This house looked like it’s been well-cared for and loved throughout the years. And now the owners get to reap a pretty hefty reward, due in large part to the city’s stubborn refusal to build more housing in the heart Silicon Valley, where housing demand is off the bloody charts.

Asking is $1,998,000, on average with most homes in the bucolic tech city, even rivaling some new constructions in San Francisco.